Softlogic Holdings PLC consolidated revenue for the Interim quarter ending September 30, 2014 increased by 20.7% to Rs.8.7 bilion taking the cumulative revenue to near Rs.17 Bn, (up 17.7%).
Retail cluster outperformed with a 25.6% contribution to the Group’s cumulative turnover for 1HFY15 followed by Healthcare Services with a 25.1%, Financial Services and ICT each contributing 24.4% and 22.4% respectively. We expect 2HFY15 to report much stronger numbers with most of our business segments skewed towards the seasonal peak, viz, Retail, Insurance, Healthcare and Leisure.
Consolidated Gross Profit increased 18.7% to reach Rs. 3.1 Bn during the second quarter of the financial year with cumulative first half Gross Profit increasing 19.3% to Rs. 6.1 Bn.
Finance Income, which registered an exceptional three-fold growth to Rs. 1.2 Bn (Rs. 800.3 Mn during the quarter), was primarily led by investment portfolio gains at Asian Alliance Insurance PLC which registered Rs. 1.1 Bn gain in its fixed and equity investments for the cumulative period under review. Finance expenses declined to Rs.684.3 Mn as opposed to Rs.733.1 Million in the comparative quarter.
Cumulative finance expenses also reduced to Rs.1.3 Bn with declining interest rates in the wider economy which has assisted the Group’s rapid growth momentum. At this juncture, debt is a much cheaper source of funds in comparison to equity. However, necessary steps are being taken to address Group’s gearing position to bring it to an acceptable level.
Group PBT registered over a two-fold growth to Rs.427.0 Mn during the quarter taking cumulative PBT to 721.8 Mn (Rs. 343.0 Mn in 1HFY14). Profit for the six-month period amounted to Rs.579.1 Mn (up by a strong 91%) with the 2QFY14 reporting Rs.353.8 Mn (up 198.8%).
Retail cluster outperformed with a 25.6% contribution to the Group’s cumulative turnover for 1HFY15 followed by Healthcare Services with a 25.1%, Financial Services and ICT each contributing 24.4% and 22.4% respectively. We expect 2HFY15 to report much stronger numbers with most of our business segments skewed towards the seasonal peak, viz, Retail, Insurance, Healthcare and Leisure.
Consolidated Gross Profit increased 18.7% to reach Rs. 3.1 Bn during the second quarter of the financial year with cumulative first half Gross Profit increasing 19.3% to Rs. 6.1 Bn.
Finance Income, which registered an exceptional three-fold growth to Rs. 1.2 Bn (Rs. 800.3 Mn during the quarter), was primarily led by investment portfolio gains at Asian Alliance Insurance PLC which registered Rs. 1.1 Bn gain in its fixed and equity investments for the cumulative period under review. Finance expenses declined to Rs.684.3 Mn as opposed to Rs.733.1 Million in the comparative quarter.
Cumulative finance expenses also reduced to Rs.1.3 Bn with declining interest rates in the wider economy which has assisted the Group’s rapid growth momentum. At this juncture, debt is a much cheaper source of funds in comparison to equity. However, necessary steps are being taken to address Group’s gearing position to bring it to an acceptable level.
Group PBT registered over a two-fold growth to Rs.427.0 Mn during the quarter taking cumulative PBT to 721.8 Mn (Rs. 343.0 Mn in 1HFY14). Profit for the six-month period amounted to Rs.579.1 Mn (up by a strong 91%) with the 2QFY14 reporting Rs.353.8 Mn (up 198.8%).
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